Saudi Arabia will relax its bug-damage specifications for wheat imports from its...
CAIRO/MOSCOW - Saudi Arabia will relax its bug-damage specifications for wheat imports from its next tender onwards, it told Reuters on Thursday, opening the door to Black Sea imports and strengthening ties with Russia beyond energy cooperation.
Wheat from the Black Sea did not previously meet Saudi specifications for zero-pest damage, but the governor of state grain buyer SAGO, Ahmad al-Fares, told Reuters that the specifications will be relaxed to 0.5% from the next tender. Cooperation has been boosted by recent OPEC and non-OPEC oil output deals, which have become an additional stimulus for wheat talks, a Russian official, who asked not to be identified, told Reuters.
Algeria effectively precludes wheat of Black Sea origins due to a low bug-damage requirement, while Iraq mainly sources its wheat from Australia, the United States and Canada.Analysts said the move was a further sign of warming ties between Saudi Arabia and Russia since King Salman visited Moscow in 2017, the first Saudi monarch to do so, although the two countries stand on opposite sides on Syria and Iran.
“It’s to be expected in many ways given that Russia and Saudi Arabia have been cosying up over the last four years,” John Sfakianakis, chief economist at Gulf Research Center, said. The two oil giants, once seen as rivals in crude markets, have joined forces to prop up oil prices at a time when U.S. President Donald Trump was pressuring Riyadh, the de facto leader of the Organisation of the Petroleum Exporting Countries, to pump more crude and put a lid on prices.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Exclusive: Saudi Aramco valuation gap persists as IPO talks resume - sourcesSaudi Crown Prince Mohammed Bin Salman is insisting on a $2 trillion valuation o...
Read more »
Saudi energy minister, U.S. counterpart express concern over threats targeting freedom of maritime traffic: TweetSaudi Arabia's energy minister Khalid Al-Falih and U.S. Energy Secretary Ri...
Read more »
The incredible pettiness of Saudi 'progress' on women's rights | OpinionIf Mohammad Bin Salman is so keen on women's rights, why are women's rights activists in prison? And where is our backlash?
Read more »
Heather Mills 'invested £23m in vegan firm after Government refused her loan'EXCLUSIVE: The celebrity owner of VBites last night called on Boris Johnson to fulfil his vow to boost growth UK-wide
Read more »
Russia says outgoing U.S. envoy failed to improve poor tiesRussia called outgoing U.S. Ambassador to Russia Jon Huntsman a professional dip...
Read more »